US: The Federal Trade Commission (FTC) has approved Boral’s proposed acquisition of Headwaters. Boral expects that the transaction will be completed within two business days. The transaction is worth US$2.6bn. Following the purchase Boral USA and Headwaters will form a new division to be named Boral North America.
“We have been eagerly awaiting the approval from US regulators to allow us to complete the acquisition and to deliver on our strategy. In the meantime, we have continued to develop our integration plans and we are confident in our ability to deliver on the synergy targets we established when the transaction was announced,” said Boral’s chief executive officer and managing director Mike Kane. He added that Boral North America will focus on building products and fly ash.